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Nick Romito, founder and CEO of VTS, joins "Forbes Talks" to discuss the crisis of office space in major cities like New York City and San Francisco, the imp...
- 19 min
- 17K
- Forbes
Jun 18, 2022 · Modern Office Spaces And The Future Of Work - YouTube. Bloomberg Quicktake. 1.73M subscribers. Subscribed. 51. 4.2K views 1 year ago #futureofwork #Workplace #Explained. From social areas to...
- 5 min
- 4.4K
- Bloomberg Quicktake
CNBC's Robert Frank joins 'Squawk Box' to report on Manhattan's struggling market for office spaces.
- 3 min
- 12.5K
- CNBC Television
- Economic Indicators Tipped to Improve
- Surveys Illustrating Optimism
- Differences in Location
- Supply Higher Than Demand
- A Two-Tier Market
- Real Estate as A Service
- The Challenges and Uncertainties Ahead
There are many factors influencing office market performance, but macro-economic indicators are some of the most critical. As we settle into 2022, a decline in unemployment is expected to be one of the most important factors underscoring the recovery of the office market. Recent data from the U.S. Bureau of Labor Statistics outlined a small upticki...
Occupancy and take-up rates may be lower than initially projected, as many companies continue to work through their real state portfolio and space utilization strategy, whilst also dealing with the uncertainty of additional COVID-19 variants. Despite these less-than-optimal market conditions, a Deloitte surveyabout perceptions on real state for 202...
In line with what we saw throughout most of 2021, the best performing office markets are expected to continue their rising trajectories. Secondary markets in the West and the Sun Belt are leading the lists of best-performing, with many experiencing double-digit growth rates. On the other hand, gateway markets still have a long way to go in terms of...
New office construction stalled during 2020 and 2021, and the delivery of new-build square footage was 40% lower than in 2019. Many projects have postponed their delivery dates, so there’s a substantial construction pipeline extending into late-2022. Moreover, the time frame for higher office occupancy across the US has been pushed once again into ...
During 2021, we observed a clear divergence in office market performance based on asset classes. This trend is likely to become more consolidated throughout the rest of 2022. Class A office space in highly prestigious and well-connected locations are still in demand, especially where new or newly renovated offices are concerned. It’s worth noting t...
REaaS (real estate as a service) is an emergent model that aims to give commercial property owners the chance to better use and manage underutilized assets. Interest in this real estate model has substantially accelerated since Q1 2020, and some predictthat REaaS will be one of the defining traits of the post-pandemic office market. However, adopti...
The Deloitte survey mentioned earlier in this article outlined additional key findings surrounding the main challenges awaiting the US office market for the remained of 2022. The first challenge is related to technology and its ability to support a return to the office under new conditions and requirements. Many office-based firms rely on legacy te...
Jun 24, 2021 · 01. The return to the office is here and will accelerate in Q3 2021. Companies are actively planning to bring their employees back to the office—and many have already started the process. Our data shows that office occupancy across the U.S. will gradually increase starting this summer and accelerate in Q3.
According to the U.S. Census Bureau, 32% of office employees worked primarily from home in 2021, up from 9% in 2019 pre-pandemic. That means approximately 12 million workers who used to go to the office are now mostly staying at home.
People also ask
How did the US office vacancy rate perform in Q4 2021?
How much space does office 2021 take up?
What are the best performing office markets in 2021?
Will the US office market recover in 2021?
Feb 14, 2022 · The U.S. office vacancy rate continued to level off in Q4 2021. Net absorption increased and was positive for the second successive quarter. Asking rents are mostly holding firm, but concessions have increased. Sublease space levels declined again in the fourth quarter but remained elevated.
